IRS Rules for $10K+ Crypto Transactions
The U.S. Internal Revenue Service’s (IRS) new reporting requirements for cryptocurrency transactions over $10,000, effective in 2024, present significant challenges for compliance. Stemming from the 2021 bipartisan infrastructure bill, these rules aim to tighten tax reporting in the digital asset sector. The legislation mandates that crypto brokers report comprehensive transaction details, including the sender’s personal […]
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